If the contribution to output of an additional unit of the variable input exceeds the average contribution of the variable inputs used,
A. the average product will be at its minimum.
B. the average contribution must rise.
C. the total product will begin to decline.
D. the average contribution must fall.
Answer: B
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Assume the graph shown represents the market for bottles of wine and was originally in equilibrium with D and S. Something changes and demand shifts to D2. Which of the following is true?
A. Equilibrium price increased by $5.
B. Equilibrium quantity increased by 20.
C. Equilibrium price increased by $15.
D. Equilibrium quantity increased by 30.
AACSB: Analytical Thinking
The phrase, "Google stock soared Friday, continuing Wall Street's love affair with the company," implies that Google's earnings were much more than it was expected in that quarter
a. True b. False Indicate whether the statement is true or false
Other things the same, if banks decide to hold a smaller part of their deposits as excess reserves, the money supply will fall
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 19.1 below to answer the question(s) that follow. 
Figure 19.1 Refer to Figure 19.1. After firms can respond to the payroll tax, the per-hour equilibrium wage paid by firms ________ compared to the original equilibrium wage.
A. decreases by $2 B. increases by $3 C. decreases by $5 D. increases by $5